CytomX Therapeutics, Inc. (NASDAQ:CTMX) Sees Large Increase in Short Interest

CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 9,000,000 shares, a growth of 91.5% from the February 28th total of 4,700,000 shares. Based on an average trading volume of 1,790,000 shares, the days-to-cover ratio is currently 5.0 days. Currently, 12.4% of the shares of the company are sold short.

CytomX Therapeutics Trading Down 8.8 %

CTMX stock traded down $0.06 during trading on Tuesday, reaching $0.58. 928,106 shares of the stock were exchanged, compared to its average volume of 2,632,850. CytomX Therapeutics has a twelve month low of $0.56 and a twelve month high of $5.85. The company has a market capitalization of $46.46 million, a P/E ratio of 3.41 and a beta of 1.05. The stock has a 50 day simple moving average of $0.73 and a 200-day simple moving average of $0.95.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.23) by $0.45. The business had revenue of $38.09 million for the quarter, compared to analysts' expectations of $13.53 million. CytomX Therapeutics had a negative return on equity of 41.47% and a net margin of 10.96%. Equities analysts predict that CytomX Therapeutics will post -0.05 EPS for the current year.

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Hedge Funds Weigh In On CytomX Therapeutics

Hedge funds have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. boosted its position in shares of CytomX Therapeutics by 1.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,524,076 shares of the biotechnology company's stock valued at $1,798,000 after acquiring an additional 16,359 shares in the last quarter. Northern Trust Corp boosted its holdings in CytomX Therapeutics by 16.0% during the fourth quarter. Northern Trust Corp now owns 150,632 shares of the biotechnology company's stock valued at $155,000 after purchasing an additional 20,746 shares in the last quarter. Miller Financial Services LLC bought a new stake in shares of CytomX Therapeutics in the 4th quarter valued at approximately $26,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of CytomX Therapeutics by 10.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 280,593 shares of the biotechnology company's stock worth $331,000 after buying an additional 26,373 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of CytomX Therapeutics by 76.2% during the 4th quarter. Prudential Financial Inc. now owns 64,300 shares of the biotechnology company's stock worth $66,000 after buying an additional 27,800 shares during the period. Institutional investors and hedge funds own 67.77% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CTMX. HC Wainwright reaffirmed a "neutral" rating on shares of CytomX Therapeutics in a research report on Friday, March 7th. Wedbush reaffirmed an "outperform" rating and issued a $5.00 target price on shares of CytomX Therapeutics in a report on Friday, March 7th. Finally, StockNews.com lowered CytomX Therapeutics from a "buy" rating to a "hold" rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $5.02.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.